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Smart Glass Startup View To Go Public Via Reverse Merger With Cantor Fitzgerald Sponsored SPAC

View makes smart windows that use artificial intelligence and machine learning to tint the glass to optimize natural light while controlling heat and glare.

Video source: View YouTube channel

(Reuters) – Smart-glass maker View Inc said on Monday it would go public through a $1.6 billion merger with a blank-check company sponsored by Cantor Fitzgerald & Co.

View, which expects up to $800 million in proceeds from the deal, said the combined company would be publicly listed on the Nasdaq after the merger with CF Finance Acquisition Corp II closes.

A blank-check company, or a special purpose acquisition company (SPAC), is a shell vehicle that uses capital raised through an initial public offering (IPO) to buy a private company, usually within two years. The deal then takes the private company public.

SPACs have emerged as a quick route to the stock market for companies, particularly auto technology startups concerned about the risk of the lengthy IPO process.

Reporting by Arunima Kumar in Bengaluru; Editing by Devika Syamnath.


Source: Reuters